- Set digital currency demonstration project considering convenience and expandability, expected to show practicality of ‘Blockchain Security Technology’ and satisfy various demands of users -

Sogang University Leaders in Industry-university Cooperation (LINC) and Yello Financial Group-theloop signed general agreement throughout overall industry-university cooperation with ‘Blockchain Security Technology Cooperation’ being the center. At the agreement ceremony, which was held on August 9 at Berchmans-Woojung Hall of Sogang University, Lee Jang-kyu, vice president of Sogang University, Lee Hee-sung, dean of Industry-university Cooperation (LINC) and major people from the university and Park Sang-young, CEO of Yello Financial Group, Lee Kyung-jun, CEO of The Loof and so on participated at the ceremony, signed the agreement to strengthen technology cooperation and mutual exchange between the 3 parties and discover various industry-university cooperation model.

As the first cooperation project based on the blockchain core technology of The Loof, this demonstration project is to construct digital currency platform within Sogang University and this will be carried out from the end of this month. Recently the city of Seoul also announced to release ‘S-coin’ which is the region’s digital currency and this paradigm of changing into digital currency is becoming an accelerated trend globally. Digital currency platform which is scheduled to be constructed will become possible to make payment in restaurants, coffee shops, book stores at Sogang University campus also include features to do wire transfer freely and will be constructed as an optimized form considering user’s convenience and expansion of business districts surrounded by the university.

Including LINC, Sogang University has been standing out in various industry-university cooperation areas, last year opened up Smart FinTech Research Center and newly created FinTech major at Graduate School of Information Technology. In May, jointly with Yellow Financial Group established ‘The Loof’, which is a specialized cooperation in blockchain security technology.

On the other hand, ‘Blockchain Security Technology’ is a technology that can block hacking when a transaction has been made with virtual currency. Currently, with the rapid increase of the interest and demand regarding digital currency, it has become the most necessary FinTech technology.

Lee Jang-kyu, vice president of Sogang University said, “By taking the opportunity of this agreement ceremony, I hope that Sogang University can structure leading industry-university cooperation model in FinTech area.”

Lee Kyung-jun, CEO of The Loof said, “Our goal is to construct digital currency platform that contains features of safety and convenience based on the professionalism of blockchain security technology of theloop,” and expressed his ambitions, “Through this, show the practicality of FinTech technology and will develop into the service that can fulfill the demands of the users.”